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USD CHF Technical Analysis - USD CHF Trading: 2024-06-26
USD/CHF Technical Analysis Summary
Above 0.8959
Buy Stop
Below 0.8941
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
USD/CHF Chart Analysis
USD/CHF Technical Analysis
The technical analysis of the USDCHF price chart on 1-hour timeframe shows USDCHF,H1 is rising above the 200-period moving average MA(200) which has leveled off. We believe the bullish momentum will continue after the price breaches above the upper bound of Donchian channel at 0.8959. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.8941. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - USD/CHF
Switzerland’s current account surplus widened decline accelerated in first quarter. Will the USDCHF price rebound continue?
Switzerland’s current account surplus widened in first quarter. The Federal Statistical Office reported Switzerland’s current account surplus widened to 16.1 billion Swiss francs in the first quarter of 2024 from 10.8 billion Swiss francs in the corresponding period of the previous year. The goods surplus increased to 31.2 billion Swiss francs from 26.6 billion Swiss francs last year. Meanwhile, the services shortfall rose to 3.7 billion Swiss francs from 2.7 billion a year ago. Wider Swiss current account surplus is bullish for Swiss franc and bearish for USDCHF price. However the current setup is bullish for the pair.
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